Further Reading

Jed McCaleb sold Mt. Gox to Mark Karpeles in 2011 and retains a 12 percent stake.

Citing an anonymous “company executive,” The Wall Street Journalreports that Tibanne hopes to raise around $1 million for the sale and wants to sell the assets because the company has “no use for them.” The trademarks are set to expire in 2021 in the EU and 2022 in Japan. Tibanne CEO Mark Karpeles did not immediately respond to Ars’ request for comment.

According to a February 2014 leaked document, Mt. Gox’s “Business Plan Europe 2014-2017,” Tibanne has “one sole shareholder,” Mark Karpeles. That would suggest that the unnamed executive is Karpeles himself.

Meanwhile, Mt. Gox is still awaiting word on its sale to a new potential buyer. If approved by the Japanese court where the embattled Bitcoin exchange filed for bankruptcy three months ago, Mt. Gox would be sold to a new company, Sunlot Holdings Limited.

In February 2014, Mt. Gox announced that it lost 750,000 bitcoins belonging to its customers as well as 100,000 of its own bitcoins after weeks of DDOS attacks and “transaction malleability” problems. In total, Mt. Gox is estimated to have lost $468 million worth of bitcoins, prompting the exchange to file for bankruptcy protection in Japan and the United States. Shortly thereafter, the exchange halted all withdrawals, and plaintiffs in both Canada and the US suspected large-scale fraud and took legal action.